from Peter Schiff:

The Death Spiral Has Begun… Bitcoin, Tech, and Stretch All Cracking!

Saylor sold Bitcoin for the first time, Stretch hit $90, and the self-perpetuating death spiral I’ve been warning about just started. • This episode is sponsored by Odoo.

The tech wreck Peter Schiff has been warning about may have finally started. Bitcoin plunged 16% on the week to below $60,000, wiping out all post-election gains and pushing Strategy’s 840,000 Bitcoin position $12 billion underwater. Stretch preferred stock fell to $90, triggering a potential death spiral: Saylor must either raise the dividend to prop the price back up — burning through his already depleted cash reserves faster — or watch holders flee, which craters both Stretch and Strategy, forcing the liquidation of all 840,000 Bitcoin at fire-sale prices.